The chairman of India's embattled Satyam Computer Services announced his resignation from the leading outsourcer on Wednesday, sending its share down more than 50 percent.

"I sincerely apologise to all Satyamites and stakeholders, who have made Satyam a special organisation, for the current situation," B Ramalinga Raju said in a notice sent to the stock exchanges.

"I am now prepared to subject myself to the laws of the land and face consequences thereof." - Reuters